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Properties that don’t upgrade could get the boot
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It's renovate or get out: InterContinental Hotels Group PLC said it may strip its Holiday Inn brand from up to 300 of the 2,700 hotels owned by franchisees in North America if those properties don't get going with the brand's overhaul by Feb. 1, The Wall Street Journal reports.
IHG said that thus far, 1,400 Holiday Inns in North America have completed required redecorations as part of a $1 billion revamp that started in 2007. Most of the remaining 1,300 have at least started the process -- but 300 haven't.
According to the Journal, Kevin Kowalski, IHG's senior vice president of brand management for Holiday Inn, told audience of thousands of Holiday Inn franchisees Wednesday at IHG's annual Investors and Leadership Conference in Washington, D.C.: “We're not changing the components of this process, and we're not changing the timing. As for the laggards, “On the compliance date – Feb. 1 – those hotels will get a failure letter and so will their banks,” Kowalski said.
The upgrade involves redecorating guest rooms and lobbies and installing signs with Holiday Inn's new logo and new exterior lighting. The cost of the overhaul is borne by the franchisees, and IHG estimates the program costs each $150,000 to $250,000.
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